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WTI Options Liquidity During Non-U.S. Hours

Highlights:

  • Over 80% of WTI Options (LO) have traded electronically for almost 3 years straight
  • LO volume continues to be driven by spread trading—a record 59% of LO volume was executed via spreads in March 2020
  • A record 21% of WTI Options are being traded overnight YTD in 2020 with ETH ADV at 31k
  • LO ADV traded during London Morning Hours is at 21k YTD, with a record 14% of total ADV executed during this time frame each day

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New Expiration Rules for Brent Options

Highlights:

Brent Crude Oil options (BZO) will be auto-exercised with no contrary instructions allowed beginning with the March 2020 contract expiration on NYMEX. The new options expirations rules allow a simpler and more transparent expiration process for traders hedging the volatile crude oil market.

For More Information:    

Clearing CME Globex Floor CME ClearPort Product Name Subgroup Exchange Volume Open Interest
LO LO - LO Crude Oil Option Crude Oil NYMEX 114,821 2,272,780
LN LNE - LN Natural Gas Option (European) Natural Gas NYMEX 60,778 3,111,164
9C 9C - 9C Brent Crude Oil Last Day Financial Calendar Spread (1 Month) Option Crude Oil NYMEX 12,000 12,600
LO2 LO2 - LO2 Crude Oil Weekly Options - Week 2 Crude Oil NYMEX 3,879 7,734
G4 G4X - G4 Natural Gas (Henry Hub) Last-day Financial 1 Month Spread Option Natural Gas NYMEX 2,000 145,346
ON ON - ON Natural Gas Option (American) Natural Gas NYMEX 1,725 48,198
7A B7A - 7A Crude Oil Financial Calendar Spread Option 1 Month Crude Oil NYMEX 1,400 187,055
AO AAO - AO WTI Average Price Option Crude Oil NYMEX 914 221,782
OH OH - OH NY Harbor ULSD Option Refined Products NYMEX 666 16,405
MCO MCO - MCO Micro WTI Crude Oil Option Crude Oil NYMEX 387 3,263
Trade Date: 08 Aug 2022 | FINAL

Note: Volume and Open Interest data is from the previous trade date. Preliminary data updates at approximately 9:00 p.m. CT and the final update is at 10:00 a.m. CT next business day.

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